The investment will be made into a larger equity fund which seeks to develop 533 MW in the market, which currently has the lowest rate of access to electricity in the world. Even small capacity additions can bring economic impacts to many people.
The domestic company has cleared a third debt funding facility of $9 million with Kenya-based SunFunder, responsAbility and Oikocredit. The credit means 2.5 MW of off-grid capacity, enough to bring energy to 70.000 people.
The Ministry of Energy and Mineral Development of the Sub-Saharan country is currently seeking advice for its Decentralized Renewables Development Program, which includes an off-grid master plan for the electrification of islands on Lake Victoria and the creation of a pilot program for solar net metering.
Gogla has released a report showing the positive economic effects of deploying small-scale pay-as-you-go solar systems in off-grid regions. More than half of the survey’srespondents reported having increased economic activity, with many of those starting new businesses or significantly increasing their household income.
Uganda’s government seeks proposals to bring off-grid solar solutions to 89 post primary education institutions across the country.
SolarNow and fellow investors SunFunder, Oikocredit and ResponsAbility Investments have announced a $6 million receivables financing facility for the installation of off-grid solar systems in the African nation of Uganda.
160,000 units have been sold to date by the company, which includes 90,000 Solar TVs. 62.5 million hours per month of kerosene-free lighting will be provided, which estimates calculate will save over 600,000 tones of CO2 over a period of four years.
Funds for the projects will be provided by the EU and Germany’s Federal Ministry for Economic Cooperation and Development (BMZ)
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